Foxconn to buy Microsoft’s Vietnam phone plant for $22 mln: report

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An employee works at Microsoft's mobile phone factory in the northern province of Bac Ninh in a file photo. Photo credit: Trung Hien/Vietnam+ An employee works at Microsoft's mobile phone factory in the northern province of Bac Ninh in a file photo. Photo credit: Trung Hien/Vietnam+

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Taiwanese electronics manufacturer Foxconn will acquire Microsoft Mobile Vietnam to produce feature phones and smartphones in the Southeast Asian country, news website Deal Street Asia reported on Friday.
The VND492.4 billion (US$22 million) consideration will be payable within seven business days of the closing date of the transaction, the website said, quoting Foxconn.
Upon closing the transaction, Foxconn, or Hon Hai Precision Industry, will own and operate a feature phone and smartphone manufacturing business out of a facility in the Vietnamese northern province of Bac Ninh.

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